Concentrated Solar Power Market Revenue to close at USD 9256.40 million by 2027
Posted On June 30, 2021
The Global Concentrated Solar Power Market is foreseen to grow at a remarkable CAGR of 10% during the year 2021-2027 as estimated by the report from Value Market Research wherein the market value is expected to grow to USD 9256.40 million by 2027. The boosting application of the clean fuel substitutes and the expanding environmental issues are the fundamental factors driving the growth of global concentrated solar power market. Concentrated solar power uses the solar power to an utmost extent by concentrating the power from numerous directions to one epicentre that generates heat using different mechanisms resulting in electricity production. With many countries understanding the benefits of solar power, solar panels have been employed in different parts of its boundaries to enhance the power generation using solar energy, which will necessarily strengthen the market growth in the forthcoming years.
Concentrated solar power is a technique that utilizes concentrated solar energy to store and create electricity. It is a process encompassing the use of numerous mirrors to direct the sunlight on a specific point, where the energy from the sun is packed and utilized to produce high-temperature heat. This heat is now used to generate steam, which is the basis to drive the steam turbine to produce electricity. Electricity is produced by passing the generated steam through a traditional generator. The concentrated solar plant in the system has generally two parts, one which is used for the storage of solar energy and transformation into heat and the second one is used to produce electricity using the generated heat. The main variation in different technologies used is the fixation of mirrors and the receiver at different places.
The geographical and segmentation study covered in the report "Global Concentrated Solar Power Market Report By Technology (Parabolic Trough, Linear Fresnel, Dish, Power Tower), By Application Type (Residential, Non-Residential, Utility) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" helps in understanding the upcoming trends of the market.
On the basis of application the market is segmented into Utility, EOR, Desalination, Others. By technology the concentrated solar power market is categorised as Parabolic Trough, Linear Fresnel, Dish, Power Tower. Geographically the research study provides data on North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions. This section provides the estimates of market by segment, thus providing valuable data to take strategic decisions.
The Report Segments Global Concentrated Solar Power Market -
- Parabolic Trough
- Linear Fresnel
- Power Tower
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Players Profiled In the Report:
Abengoa, Siemens Energy, BrightSource Energy, Inc., Acciona, TSK Fl, INITEC Energía, Enel Spa, Grün leben GmbH, Aalborg CSP, ACWA Power, Torresol Energy, and Trivelli Energia SRL.
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